Marketing in a Recession
I was having a drink with some very successful CEO’s and business owners the other day.
“A good way to prepare for the hard times is to scale back, always be ready, and expect the worst. When the rainy season comes you’ll have extra money to survive these slow times in business. Cut back insurance, only spend on bare necessities, and realize how to run an operation with as little operating costs as possible. “Cut Cut Cut Cut”……..”Increase sales”…..”Cut Cut Cut”……..
Wait a minute! I had to interject with some of the most successful business friends I know. “How are you going cut all marketing efforts and keep increasing sales”? Wow did I start a swarm. I felt like I just lit a hornets’ nest on fire! After 5 minutes of arguing, I had the whole room laughing and agreeing that sales and customers is the life blood of any company. Especially in a time of recession!
In an economic downturn, sales and marketing are two areas that should be budgeted for any growing or surviving company. There are very cost effective and track able ways to market to your audience. Obviously Internet Marketing Is the most accurately tracked advertising in the world today. Analytics and data collecting allow you to track and tweak your campaign in real time. With Display and Search Engine Marketing, your targeted audience will be connected with your website. A Website is the number 1 sales instrument in any company. Yeah it’s great to have a very pretty and professional website, but if no one is ever going to see it, no one will ever know you exist.
Websites also have to be functional. Does it really inform and capture your audience’s attention? Or more importantly does it capture your audience’s information to follow up with later. Deigning a web site to fit the needs of your business is crucial in having a functional web presence. If executed correctly, web design and marketing can be the most cost effective form or business acquisition.
On and On I go. Needless to say, We are now doing business together and acquiring customers on a daily basis for a respectable return on investment. I love my job!
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